"We are raising our rating on PETsMART to 'Outperform' from 'In-Line,' staking out a position for 2006 in One of the biggest underperformers of 2005," Goldman analyst Matthew J. Fassier said in a note. The stock has been One of the Retail sector's weakest performers so far this year, down 34 percent, the analyst said. Fassier said newly renovated Retail stores and a renewed focus on cutting costs would help Petsmart's Performance next year.
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